Vietnam's SSI to remove foreign ownership cap from Sept

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Vietnam's SSI to remove foreign ownership cap from Sept

Reuters - 8/28/2015 4:27:20 PM

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Vietnam's Saigon Securities Inc said on Friday it would remove the foreign ownership cap on its shares from next month, in line with a government effort to boost investment in the stock market.

From Sept. 1, 2015 foreign investors can own 100 percent of the Ho Chi Minh City-based brokerage, the company said in a statement on its website (ssi.com.vn).

In June Vietnam's prime minister approved the scrapping of a 49 percent foreign ownership cap across many listed firms in one of the country's boldest economic reforms yet, although some sectors will remain restricted.

SSI shares were trading up 4.98 percent at 25,300 dong ($1.13) each on Friday, their highest in a month, Thomson Reuters data showed.

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